31/05/2022 - 17:30

Asra stacks more gold hits into resource upgrade

31/05/2022 - 17:30

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As it hurtles towards an expected resource upgrade, Asra Minerals has returned more significant high-grade gold intercepts from RC drilling at its flagship 118,400-ounce Mt Stirling project in WA’s Eastern Goldfields. The program continues to extend mineralisation beyond previous resource boundaries, with the company reporting results grading up to 1m at 11.86 g/t from two more holes.

Asra stacks more gold hits into resource upgrade
RC drilling operations at Asra Minerals’ flagship Mt Stirling project in WA. Credit: File

As it hurtles towards an expected upgrade, Asra Minerals has returned more significant high-grade gold intercepts from RC drilling at its flagship 118,400-ounce Mt Stirling project in WA’s Eastern Goldfields.

The program continues to extend mineralisation beyond previous resource boundaries at the project’s premier prospect, MS Viserion, with the company reporting results from two more holes.

Significant hits from the first hole include 1m at 5.03 grams per tonne from 5m and 1m at 5.3 g/t within a broader 7m at 2.36 g/t from 253m.

A second hole 80m to the north encountered 1m at 11.86 g/t within 2m at 6.43 g/t from 16m.

The positive downhole data has been submitted to the company’s geological consultants to be fed into the upcoming upgrade, with the bulk of resource assays now received. Four more assays across Asra’s prospects are yet to be received, with downhole density surveying of selected drill holes finished.

Asra Minerals Executive Director, Peretz Schapiro said: “It is important to include as much information as possible into the coming mineral resource estimate, as it guides us and helps us plan our continued ongoing exploration and proposed mining activities.”

The company refers to Mt Stirling as a “triple play” as it is packing an endowment of clean, heavy rare earth elements and critical minerals in addition to its solid gold inventory.

Less than 5km south of the company’s premier gold deposit lies its rare earths and critical minerals prospects, Yttria and Wishbone. Asra says the southern prospects have a high ratio of heavy rare earths to total rare earths and importantly, host the most critical heavy rare earths of dysprosium, terbium, europium, neodymium and yttrium in addition to significant anomalous concentrations of cobalt and scandium.

The project hosts 10 major gold targets, including two JORC-compliant resources, MS Viserion and Stirling Well.

The project’s larger resource is MS Viserion, standing tall at 2 million tonnes at 1.54 g/t for 102,000 ounces contained.

A short 840m south lies the Stirling Well resource of 254,000 tonnes at 2.01 g/t gold for 16,400 ounces contained.

Assays from the Stirling Well gold deposit were received from 13 extensional holes, with results compilation for release progressing.

A total of 48 drill holes at Stirling Well are expected to be included in the estimate.

Notably, 8km south-east lies ASX-listed Red 5’s 4-million-ounce King of the Hills gold mine that has produced more than 1 million ounces of gold so far.

Asra says the broader region has recently produced about 14 million ounces of gold from an array of mines including Tower Hills, Sons of Gwalia, Thunderbox, Harbour lights and Gwalia.

Assays from drilling down dip of a high-grade mineralised zone at the explorer’s Diorite prospect have also been received and are soon to be released with follow-up drilling planned.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

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